Verification is the process by which schools review student financial aid applications for accuracy. Institutions that participate in Federal Title IV aid programs are required to perform verification on a selection of students. Verification is done by collecting the documents the student used to complete the FAFSA and comparing them with the information the student provided on the FAFSA. You will not be able to receive financial aid until the verification process is complete. To receive maximum consideration for aid such as grants and/or work study, turn in all documents as quickly as possible.
If the student or parents file a tax extension you can tentatively be awarded, however no aid will disburse to the students account until the tax returns are filed and a copy is sent to the financial aid office.
Federal Regulations Title 34: Education 34 CFR 668.54 W hat is a W2: Form W-2, a United States federal tax form issued by employers and stating how much an employee was paid in a year. Go to IRS.gov